The rise of blockchain-based play-to-earn (P2E) gaming was one of the leading stories in 2021 as games such as Axie Infinity exploded in popularity and players realized that they could make life-changing amounts of money while also having fun. According to data from Footprint Analytics, the Ethereum network remains the leader when it comes to the number of games launched on-chain, but persistently high fees and network congestion have pushed a growing number of players to layer-2, cross-chain, bridge-supporting networks and competing blockchains that offer lower-cost transactions costs. Here’s a look at a few non-Ethereum blockchain networks that are gaining …
Nonfungible tokens (NFTs) have come a long way in a relatively short period of time. In 2017, the NFT project CryptoKitties made headlines as the largest decentralized application on the Ethereum network. While CryptoKitties accounted for a notable portion of Ethereum transaction volume in 2017, these NFTs mainly served as digital collectibles geared toward the crypto community. It wasn’t until March 2021 when NFT artwork started gaining traction due to the financial potential behind these creations. This was demonstrated when digital artist Mike Winkelmann, also known as Beeple, sold his NFT piece titled “Everydays: The First 5,000 Days,” which raised …
As the hype surrounding play-to-earn (P2E) games and platforms began to dwindle in early 2022, Web3 participants began to emphasize the need for games to be more “fun” and less finance-oriented. In the most recent episode of NFT Steez, Alyssa Expósito and Ray Salmond spoke with Aron Beireschmitt, the CEO of Laguna games and founder of Crypto Unicorns, about the sustainability of P2E-focused blockchain games. For Beireschmitt, the evolution from a play-to-earn to a play-and-earn model suggests that there is still experimentation and maturation to be seen for these games. “Nothing has changed about making games,” says Beireschmitt, but with …
Porsche criticized for 'low effort' NFTs, ends mint early Car manufacturer Porsche had to cut short a nonfungible token (NFT) mint of its famous white 911 model only two days after the public mint started, saying its “holders have spoken.” The Jan. 23 launch was seen by some as a huge flop for Porsche with just 2,040 of the 7,500 NFTs available having been sold at the time of writing. Our holders have spoken. We’re going to cut our supply and stop the mint to move forward with creating the best experience for an exclusive community. More info in the …
It’s fun to talk about nonfungible tokens, or NFTs, because they are the perfect example of how the impact of blockchain technology in people’s lives goes way beyond the financial market. As we could see in hundreds of headlines in the past few months, they have gripped the world’s attention because they are a new manner of interacting with culture, music, sports and the media. This article will clarify what NFTs are, how they work, how the NFT boom started, and why blockchain technology has made it possible for NFTs to create a new economy. Related: A cure for copyright …